Bachus is the genius who pointed out

"There have been studies by Harvard University, University of Pennsylvania, McGill University in Canada, American Psychiatric Association - all of these say the younger someone starts gambling, the more likelihood that they become a compulsive gambler. Addicted to gambling, just like addicted to drugs. So there is a correlation between drug dealers and gambling sites."

In 2007, Bachus made trades with a number of short term stock options, betting that stocks would rise or fall for a quick profit or loss. Bachus made up to $160,000, including a bet in March that the stock market would drop that earned him between $15,000 and $50,000. Most members of Congress hold some stocks or mutual funds, but Bachus' rapid-fire trades are unusual for a leading member of Congress, particularly one with the key role of ranking member of the House Committee on Financial Services.

From July through November 2008, Bachus traded in options at least forty times, making money from betting against the market as it collapsed that year. During this period, Bachus was one of the Congressional leaders getting private briefings from Secretary of the Treasury Hank Paulson and Federal Reserve Bank Chairman Ben Bernanke about the worsening financial crisis.[ Bachus said that he "never trades on non public information, or financial services stocks".

It is past time to stop politicians from enriching themselves on the backs of the taxpayer.

#2 | Posted by Doc_Sarvis
#3 | Posted by KBM

I agree it is wrong but as I understand it the rules in effect at that time allowed the trades. If he does go down for this I hope they take Kerry and Pelosi down too. We need to force all politicians to place their portfolio into a blind trust while they are in office.

With a 13% approval rate these guys need some good press.

#1 | Posted by Doc_Sarvis

*facepalm*

What does that say about the intelligence of those who voted him into office?

"It's Alabama, Jake. It's Alabama."

It is past time to stop politicians from enriching themselves on the backs of the taxpayer.

#3 | Posted by KBM

Fuck you!

Eric Cantor

###
We need to force all politicians to place their portfolio into a blind trust while they are in office.

#4 | Posted by paneocon

Fuck you!

Dick Cheney

What does that say about the intelligence of those who voted him into office?
#5 | Posted by jpw

But it OK that Kerry and Pelosi did the same thing becaue they are not Republicans.

#8 That's right, PANEOCON, it's all part of our master plan to fuck with republicans. Actually, Bachus is a democratic plant.

Hey if there was no law against it - what's the bitch? Oh, it seems he's the O-N-L-Y one who has done this! Can this be strung out until Obama gets reelected? If this is IT, we're in deeper shit than I thought!

Get a life! What was he doing BEFORE he was in Congress? Even a 'blind man' could see that the proverbial 'Shit was hitting that fan' years before it actually happened! The stuff going on market-wise was so ugly as to be noxious!

Throw a dart at the stock listing page - what you hit, SHORT! You'll surely be rich in no time!

Get something for nothing? Believe if you want! But even I know it's NOT possible! Someone pays - someone always pays! The problem, it's always the SAME people! Not the one's doing dirty!

Let's hang them ALL out to dry, don't get selective in your blathering - it's not becoming!

Obama and his 'house improvements at little or no cost to him', Pelsoi and the miracle money her husband made, also Feinstein's hubby who's company, until it got a 'miracle' order from OUR GOVT was going under, Kerry, J and the 'sailboat' - check the prisons, the Political wings are getting full, with both D's AND R's - each side has done 'something'! Pick your poison, but pick ALL of it!

'I didn't inhale either! - Or soaked my cigar! - Nor lusted in my heart!'

Bachus: The Office of Congressional Ethics has requested information and I welcome this opportunity to present the facts and set the record straight, Bachus said...

Oh, OK then... he welcomes the opportunity to set the record straight. Love it. Never heard that one before.

But, that said -- WTF?? As much as I'm disgusted by the corruption and total bullshit all over Washington -- and have railed against insider trading many times here -- how can these scoundrels NOW single out ONE congressman for PAST deals - when they ALL were pulling this crap day in and day out?? This, like everything in that town, is a joke.

Scapegoats, they're looking for scapegoats. The Pelosi's and Kerry's out there will need a little time to "fix" the new rules so as to protect themselves from any further investigations. Not unlike the whole HCR.

This is really very sportsman like of Bachus to be their fall guy.

My guess is there's an offshore account funded by all of Congress to help Bachus to support himself in the life style he's become accustomed to after he's found guilty of unethical behavior and sent packing.

See it's all good.

The examples cited are nonsense.

Hey if there was no law against it - what's the bitch?

Pro-Choicers of America

Just another republican criminal. It is their blood. Republicans can't help themselves from doing evil.

15 Jackass.,,

Congrats man! Aside from the owner of the hands-down best "handle", with every post you cement yourself as THE biggest idiot on DR. As difficult a time as the judges have had with this one -- they've come to the conclusion that you are the solid pace setter. Danni is dangerously close, but they believe that she loses a few angstroms of ground as your posts pile up.

JM

But it OK that Kerry and Pelosi did the same thing becaue they are not Republicans.

#8 | Posted by paneocon

My post was in response to the quote in post 1.